Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 23 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Thiraya from Gent, company number BE0765206175, closed financial year 2025 with a result of € 3,452 after tax. For that financial year Thiraya recorded a gross margin of € 3,651 and equity of € -131,166. Compared with financial year 2024, the result moved from € -41,845 to € 3,452. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 25, 2026.
€ -131,166
▲ € 3,452 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3,452
▲ still € 41,845 loss in 2024
Profit after tax over the fiscal year.
€ 11,769
▲ € 11,211 vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -141,166.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 10,109
▼ 68% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -65,371 | € -12,070 | € -40,249 | € 3,651 | ▲ € 43,900 |
| Profit after taxes | € -70,124 | € -13,255 | € -41,845 | € 3,452 | ▲ € 45,297 |
| Equity | € -79,519 | € -92,774 | € -134,618 | € -131,166 | ▲ € 3,452 |
| Total debts | € 136,187 | € 144,323 | € 173,632 | € 169,949 | ▼ 2% |
| Cash | € 20,406 | € 163 | € 558 | € 11,769 | ▲ € 11,211 |
| Retained profit | € -89,519 | € -102,774 | € -144,618 | € -141,166 | ▲ € 3,452 |
| Balance sheet total | € 56,668 | € 51,549 | € 39,013 | € 38,782 | ▼ 1% |
Key figures of Thiraya, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Thiraya?
What happened at Thiraya in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 3,452. filed late Source: NBB ↗
- Incorporation, published in the Gazette. Source: Staatsblad ↗
- New establishment in Gent. KBO
In short
From € 70,124 loss in 2022 to € 3,452 profit in 2025.
Best year ever: 2025, with € 3,452 profit.
Management
Behind Thiraya is Karthik Raman.
Directors
According to the 2025 annual accounts
Karthik Raman
Director
Establishments
Establishment units
Physical locations of this company
Triomfstraat 12
9000 Gent
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- Karthik RAMAN(oprichter) 100%
Details
- Company number
- 0765.206.175
- VAT number
- BE 0765.206.175
- Registered office
- Triomfstraat 12, 9000 Gent
- Names & denominations
- Thiraya
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 March 2021
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